SEC Division of Corporation Finance Says Canton Coin Is a Digital Commodity

November 4: According to The Block, the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance issued a no-action letter stating that it considers Canton Network's native token Canton Coin (CC) to be a "digital commodity," and that, provided certain conditions are met, it would not recommend enforcement action against the programmatic issuance of CC. The division said CC is closely tied to the programmatic operation of the Canton Network, that its value derives from network operation and supply and demand dynamics rather than expectations of profits from the core managerial efforts of others, and that the network has no centralized controlling party. Canton Network subsequently posted on X citing the contents of the no-action letter.